K-P Govt announces 'insurance for all' scheme

K-P Finance Advisor Muzammil Aslam announced launch of the "Life Insurance for All" plan by the provincial government.

PESHAWAR:

Khyber-Pakhtunkhwa's Finance Advisor Muzammil Aslam announced the launch of the "Life Insurance for All" plan by the provincial government.

Under this scheme, the K-P government will provide financial support to families upon the death of the household's breadwinner. The compensation will be up to Rs1 million for individuals under 60 years old and Rs0.5 million for those over 60.

Furthermore, the government plans to establish a provincial islamic takaful insurance company, the first of its kind in the country, providing Islamic life insurance.

Muzammil Aslam highlighted that Khyber-Pakhtunkhwa holds the distinction of introducing the country's first universal health coverage scheme. Speaking about other flagship projects, he mentioned the construction of a 365km controlled entry-exit speed road corridor from Peshawar to Dera, which will pass through 12 districts and connect the province to Balochistan and Punjab.

This corridor hopes to serve as an international trade route.